FRB: Z.1 Release--F.104--State and Local Governments--March 6, 2014

F.104 State and Local Governments 1
Billions of dollars; quarterly figures are seasonally adjusted annual rates

Description	2009	2010	2011	2012	2013	2012 Q3	2012 Q4	2013 Q1	2013 Q2	2013 Q3	2013 Q4	Line
State and local governments; current receipts, NIPA basis	1919.2	1998.5	2029.9	2039.4	2101.3	2039.6	2059.7	2078.7	2110.8	2103.2	2112.4	1
State and local governments; personal current taxes	287.8	297.6	327.0	348.8	376.6	349.2	358.8	377.1	393.1	365.6	370.4	2
State and local governments; taxes on production and imports, receivable (IMA)	934.8	960.4	988.5	1004.9	1027.4	1000.6	1008.3	1021.9	1020.2	1029.7	1037.7	3
State and local governments; taxes on corporate income (accrual basis)	45.6	47.7	50.7	51.4	55.2	51.1	51.3	54.5	56.0	54.0	56.6	4
State and local governments; contributions for government social insurance received	18.6	18.1	18.3	17.5	17.5	17.4	17.3	17.3	17.4	17.6	17.9	5
State and local governments; property income (received)	87.8	82.6	80.0	78.5	81.4	78.4	79.3	80.2	80.9	81.9	82.6	6
State and local governments; other current transfer received	566.1	612.0	581.8	552.6	558.5	557.0	558.7	542.7	558.4	569.9	563.1	7
State and local governments; operating surplus, net	-21.4	-19.8	-16.5	-14.3	-15.4	-14.1	-14.0	-14.9	-15.2	-15.5	-15.9	8
State and local governments; current expenditures	2191.2	2235.8	2243.0	2292.1	2320.4	2299.7	2313.9	2308.5	2308.4	2329.2	2335.6	9
State and local governments; consumption expenditures	1508.4	1518.3	1517.4	1536.4	1548.2	1536.8	1544.3	1543.0	1541.4	1550.8	1557.4	10
State and local governments; social contributions paid	492.6	523.8	532.0	544.3	561.7	548.8	553.7	552.3	555.9	568.9	569.5	11
State and local governments; interest paid (IMA)	188.8	192.1	192.9	211.0	210.1	213.7	215.5	212.7	210.6	209.0	208.1	12
State and local governments; subsidies paid	1.4	1.6	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	13
State and local governments; net saving including net capital transfers paid	-271.9	-237.3	-213.1	-252.7	-219.1	-260.1	-254.2	-229.8	-197.6	-226.0	-223.1	14
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis)	208.2	212.7	221.7	231.4	237.6	232.4	233.7	234.9	236.6	238.3	240.6	15
State and local governments; net capital transfers paid	-67.7	-76.7	-73.9	-74.1	-71.0	-73.2	-80.5	-71.3	-68.6	-74.9	-69.1	16
State and local governments; gross saving less net capital transfers paid	4.0	52.2	82.5	52.8	89.4	45.5	60.0	76.4	107.6	87.2	86.6	17
State and local governments; gross investment	-58.9	51.3	18.0	83.3	65.8	77.0	75.3	79.6	111.1	8.8	63.5	18
State and local governments; gross fixed investment	363.0	351.9	337.2	334.9	330.9	334.6	331.2	326.1	327.8	335.6	334.0	19
State and local governments; acquisition of nonproduced nonfinancial assets (net)	12.3	10.6	10.1	10.2	9.5	10.2	10.1	9.8	9.6	9.4	9.2	20
State and local governments, excluding employee retirement funds; net lending (+) or borrowing (-) (financial account)	-434.2	-311.2	-329.4	-261.8	-274.6	-267.8	-265.9	-256.3	-226.3	-336.1	-279.7	21
State and local governments, excluding employee retirement funds; total financial assets	10.8	66.1	-56.6	-77.0	13.3	-25.0	-229.1	42.5	112.8	-63.9	-38.2	22
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset	19.2	5.6	16.6	-8.9	7.4	-7.6	-12.9	13.8	-10.4	28.8	-2.7	23
State and local governments, excluding employee retirement funds; total time and savings deposits; asset	9.3	-6.9	14.4	20.3	21.0	37.4	4.5	13.2	53.6	13.7	3.4	24
State and local governments, excluding employee retirement funds; money market mutual fund shares; asset	9.8	13.7	-0.1	-8.8	1.2	-6.7	-18.7	2.0	6.4	-2.6	-1.2	25
State and local governments, excluding employee retirement funds; federal funds and security repurchase agreements; asset	-4.2	-1.4	-6.5	-6.9	0.9	-5.3	-14.7	1.6	5.1	-2.0	-0.9	26
State and local governments, excluding employee retirement funds; credit market instruments; asset	-37.4	60.8	-77.3	-69.3	-31.5	-49.0	-174.0	1.4	41.6	-121.2	-47.6	27
State and local governments, excluding employee retirement funds; commercial paper; asset	-39.0	13.0	-10.8	-5.4	0.7	-4.1	-11.3	1.2	3.9	-1.6	-0.7	28
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset	-17.4	6.8	-45.5	-12.7	-38.9	-6.1	-54.0	-11.5	0.4	-104.6	-40.0	29
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities; asset	9.7	22.4	-12.7	-29.4	3.9	-22.3	-62.3	6.7	21.4	-8.6	-3.9	30
State and local governments, excluding employee retirement funds; municipal securities and loans; asset	1.0	1.4	0.1	-0.8	0.1	-0.6	-1.6	0.2	0.6	-0.2	-0.1	31
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset	3.3	7.4	-4.0	-9.4	1.2	-7.1	-20.0	2.1	6.9	-2.8	-1.3	32
State and local governments, excluding employee retirement funds; total mortgages; asset	4.9	10.0	-4.5	-11.7	1.5	-8.9	-24.8	2.7	8.5	-3.4	-1.6	33
State and local governments, excluding employee retirement funds; corporate equities; asset	-2.3	-0.3	-4.3	-5.0	0.7	-3.8	-10.6	1.1	3.7	-1.5	-0.7	34
State and local governments, excluding employee retirement funds; mutual fund shares; asset	1.7	2.8	-0.7	-2.6	0.3	-2.0	-5.5	0.6	1.9	-0.8	-0.3	35
State and local governments, excluding employee retirement funds; trade receivables; asset	-4.6	13.1	2.3	8.2	9.6	7.2	4.7	8.8	8.7	14.3	6.4	36
State and local governments, excluding employee retirement funds; taxes receivable; asset	-5.8	1.1	2.2	1.5	3.1	8.8	9.8	-1.3	-1.7	9.1	6.1	37
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets	25.2	-22.5	-3.2	-5.5	0.7	-4.1	-11.6	1.2	4.0	-1.6	-0.7	38
State and local governments, excluding employee retirement funds; total liabilities	445.0	377.3	272.7	184.8	287.9	242.7	36.8	298.8	339.1	272.2	241.5	39
State and local governments, excluding employee retirement funds; credit market instruments; liability	113.0	69.5	-52.7	-5.3	-38.9	-6.5	-115.5	73.0	32.8	-116.5	-144.8	40
State and local governments, excluding employee retirement funds; municipal securities and loans; liability	112.2	68.7	-53.6	-5.7	-39.4	-6.1	-116.0	71.7	33.0	-116.9	-145.4	41
State and local governments, excluding employee retirement funds; short-term municipal securities and loans; liability	7.8	-0.7	-10.6	3.8	-10.9	10.0	-27.2	-4.4	8.6	-19.4	-28.3	42
State and local governments, excluding employee retirement funds; long-term municipal securities and loans; liability	104.4	69.3	-42.9	-9.4	-28.6	-16.1	-88.8	76.0	24.4	-97.5	-117.2	43
State and local governments, excluding employee retirement funds; U.S. government loans; liability	0.8	0.9	0.9	0.4	0.5	-0.4	0.5	1.3	-0.2	0.5	0.6	44
State and local governments, excluding employee retirement funds; trade payables; liability	38.9	38.5	38.4	39.1	39.6	39.2	39.2	39.2	39.3	39.9	40.0	45
State and local government employee retirement funds; claims of pension fund on sponsor; asset	293.0	269.3	287.0	151.0	287.2	210.1	113.1	186.5	267.0	348.8	346.4	46
State and local governments, excluding employee retirement funds; sector discrepancy	62.9	0.9	64.5	-30.5	23.7	-31.5	-15.3	-3.3	-3.5	78.4	23.1	47

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